Broadridge Financial Solutions has agreed to acquire NewRiver, a provider of electronic investor disclosure solutions, for approximately $77m.
The acquisition is expected to accelerate Broadridge’s overall e-strategy while strengthening its compliance communication capabilities.
Raymond James & Associates acted as financial adviser to NewRiver in the transaction.
Broadridge investor communication solutions president Robert Schifellite said that the acqusition will enable the firm to provide a broader and deeper set of compliance communication solutions for brokerage, mutual fund, and annuity and retirement plan administrator clients.
“At the same time, NewRiver’s capabilities will enable us to help our clients continue the transition toward electronic document delivery and access a richer set of electronic solutions,” Schifellite said.